Recession Proof Your Life Part 1

I was actually out doing various speaking programs on this subject back in the beginning of 2008.

No one wanted to listen to me, “Mr. Gloom and Doom”.

Yeah, you know what?  Reality bites … can you hear me now?

This is the first of five parts of an article I wrote in January 2008 summarizing the material from my talks.
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With just about every financial prognosticator coming around to the view of “not if, but when” the US economy will be in a recession, now is time to take action.  Waiting until the next few quarters of economic growth have confirmed that a recession is upon us, lumps you in with the rest of the crowd.  Just like any good investment, you want to get in on it before everyone else figures out what’s going on.

This Article is organized into 5 parts.  Part 1 briefly discusses the mechanics behind the current economic situation and just what a recession is (kinda boring but if you don’t know, read it anyway).  Part 2 contains a variety of guidelines on what you can do to protect your finances and manage the money you have when the economy is looking grim.  Part 3 discusses strategies for keeping your current job (if you are lucky enough to have one).  Part 4 gets into one of my specialties: helping you to thrive.  Wouldn’t you like to be in the situation of not only being unconcerned about what is going in the broader economy but actively excited and anticipating these changes and the opportunities they will present?  I thought so.  The fifth and final part will provide you with a list of resources that you will find useful as you make some decisions – both near term (tactical) and long term (strategic) – about your future.

What Is a Recession Anyway?

That’s when your neighbor loses his job (a depression on the other hand, is when you lose your job). Read more